Investor Insight: Horizen (ZEN) and Nectar (NEC); Top coins for October 2018

Cryptocurrencies have redefined investments in the 21st century. In many ways, the blockchain technology has become the unicorn of the current decade. The world has in the past nine years witnessed the birth of new technologies, business models, crowdfunding activities, and investment options.

Courtesy of the blockchain technology we have had a new generation of cryptocurrency billionaires hailing from different parts of the world. Consequently, investors continue to seek a share of the newest pie. However, large cryptocurrencies like Bitcoin (BTC) have become extremely expensive, for this reason, investors are looking for alternative options provided by the many altcoins in the market.

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In this article, we will explore two altcoins that have are currently performing well in terms of token price and network developments. Horizen (ZEN) and Nectar (NEC) offer the best opportunities for investors with little money to spare but looking for good returns in a short time.

Horizen (ZEN)

Token Overview

While a majority of cryptocurrency operate under decentralized frameworks, very few are able to keep the users’ transaction activities out of the public eye. Some investors and crypto users prefer not to leave a trail of their activities online. They would rather seek the services of the commonly known as privacy coins. Horizen (ZEN) is such a crypto that promises to “bring privacy to life.”

In addition to being a digital asset that is privacy-centered, Horizen is a leading-edge technology platform that has been designed to connect cryptocurrency payment providers. This line of business helps to steer the crypto mass adoption ship closer to its destination. It is also categorized as a decentralized application (dApp) building platform. Horizen has simplified the process of building development by allowing anyone to create their privacy-based applications.

Within a short time of operation, Horizen has become a top 100 cryptocurrency with a market capitalization of $80 million. It has a trading volume of $622,434 on October 1, 2018. The network has a maximum supply of 21 million ZEN but only 4,836,988 ZEN are in circulation.

Why hold Horizen (ZEN)

At the time of writing ZEN/USD is exchanging at $16.65. It is among the few digital assets in the market that are still trading in the green defying the bearish wave. Throughout September ZEN/USD remained stable above $14.00 although it traded above $30 towards the end of September.

In other development news, Horizen recently announced a partnership with Netcoins. The partnership has made ZEN available in over 21,000 retail locations in Australia. Horizen is focused on ensuring that mass adoption becomes a reality. As more and more people use cryptocurrencies like ZEN, prices are expected to go higher as demand increases.

Nectar (NEC)

Token Overview

Decentralized exchanges are the future of cryptocurrency exchange platforms. Experts in the industry say that centralized exchanges will have a difficult time surviving in future. Why am I saying this? Because Nectar (NEC) is the base currency for Ethfinex decentralized exchange. Significantly, Ethfinex is more than just a DEX, it is “a community hub for developers, enthusiasts, and traders to share, discuss and crowdsource information from across the decentralized ecosystem.”

The platform is uniquely positioned in the industry because it offers the best of both worlds; centralized asset exchange and secure trustless exchange supported by a privacy-oriented wallet and serves as a trading solution for all the Ethereum-based crypto tokens.

Why Hold Nectar (NEC)

Nectar token (NEC) is the core of Ethfinex. It is at the center of decentralization on the platform. Using Nectar, Ethfinex is able to incentivize liquidity as well as rewards users of the exchange platform. As a rule, Nectar tokens are not available for distribution via a crowdsale. However, Ethfinex traders are rewarded using these tokens every 30 days depending on the trades they perform. At the same time, 50% of all the revenues on Ethfinex are put in a pool. Consequently, the holders of NEC redeem the tokens from a smart contract. NEC tokens can also be used in staking and are very instrumental in the governance of Ethfinex.

Nectar is trading at $0.544 on October 1, 2018, following a 29% surge in the last 24 hours. The asset is already ranked 112th on CoinMarketCap within a short time of existence. It has a market capitalization of $44 million and a trading volume of $107,692.

CryptoRecorder.com is a Dedicated Cryptocurrency news website and writes a variety of educational articles related to smart crypto trading, bitcoin and altcoins. You will find a details article on almost every hot altcoin and unbiased analysis of coins.